The momentum of the Dominican economy has been maintained, registering a year-on-year expansion in the Monthly Index of Economic Activity (IMAE) of 6.3% during the month of January 2022.
This improvement, according to the Central Bank of the Dominican Republic (BCRD), is in line with the projected growth for the end of this year of around 5.5%-6.0%, slightly above its potential growth.
He assures that the positive perspectives for the Dominican economy are supported by the impulse of internal demand, the recovery of tourism and the good performance of the rest of the activities that generate foreign currency.
Likewise, says the issuer, credit to the private sector in national currency maintains its dynamism by expanding year-on-year around 12% in February, especially through financing for home purchases, as well as to the agricultural, manufacturing, trade and construction.
On the other hand, the process of consolidating public finances during the year 2021 and the higher collections in relation to the estimate are highlighted; that have provided the necessary space for the reactivation of capital spending and to apply measures aimed at mitigating the impact of higher commodity prices on national production and households, especially the most vulnerable.
The explanations offered by the institution are contained in a document in which it announced the decision to maintain its monetary policy interest rate – which is a reference rate – at 5.00% per year. This, after having increased it by 200 basic points as of November, period from which it is applying a monetary normalization plan to offset external shocks on prices and contribute to the convergence of inflation to the target range.
The organization assured that the decision is based on an exhaustive evaluation of the behavior that the world economy is showing.
